The U.S. Commerce Department reported on Monday that the value of new factory orders jumped 1.2 percent m-o-m in August, following a revised 0.7 percent m-o-m increase in July (originally a 0.4 percent m-o-m advance).

Economists had forecast a 1.0 percent m-o-m jump.

According to the report, orders for transport equipment (+5.4 percent m-o-m) recorded the biggest gain in August. Meanwhile, total factory orders excluding transportation, a volatile part of the overall reading, went up 0.5 percent m-o-m (compared to an upwardly revised 0.9 percent m-o-m climb in July), while orders for nondefense capital goods excluding aircraft, a measure of business spending plans, increased 0.6 percent m-o-m instead of growing 0.5 percent m-o-m as reported last month.

Overall, durable goods orders climbed 1.8 percent m-o-m in August, while orders for nondurable goods rose 0.6 percent m-o-m.